Published on 7/27/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.5 million Strategic Accelerated Redemption Securities on basket
By Kiku Steinfeld
Chicago, July 27 – Barclays Bank plc priced $4.5 million of Strategic Accelerated Redemption Securities due July 25, 2024 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the Nikkei 225 index with a 20% weight, the FTSE 100 index with a 20% weight, the Swiss Market index with a 10% weight, the S&P/ASX 200 index with a 7.5% weight and the FTSE China 50 index with a 5% weight.
The notes will be called at par plus a premium of 9% per year if the closing level of the basket is equal to or greater than its starting value on any yearly observation date.
If the notes are not called, the payout at maturity will be par of $10 plus the return of the basket with full exposure to the decline.
BofA Securities, Inc. is the underwriter.
| Issuer: | Barclays Bank plc
|
| Guarantor: | Bank of America Corp.
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| Issue: | Strategic Accelerated Redemption Securities
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| Underlying indexes: | Euro Stoxx 50 (40% weight), Nikkei 225 (20% weight), FTSE 100 (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight), FTSE China 50 index (5% weight)
|
| Amount: | $4.5 million
|
| Maturity: | July 25, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Full exposure to loss if basket declines
|
| Call: | Par plus 9% a year if the closing level of the basket is equal to or greater than its starting value on any yearly observation date
|
| Initial index levels: | 4,035.77 for Euro Stoxx 50, 28,003.08 for Nikkei 225, 7,008.09 for FTSE 100, 12,026.50 for Swiss Market, 7,348.12 for S&P/ASX 200, 19,860.46 for FTSE China 50
|
| Pricing date: | July 16
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| Settlement date: | July 22
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 1.5%
|
| Cusip: | 06747T127
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